In 2022, Europe raced to fill gas storage with LNG imports; now its focus must turn to next year’s winter, top executives at Commonwealth LNG and Chesapeake Energy said Feb. 1 during a panel discussion at the NAPE summit in Houston.
Policymakers should underpin future demand reduction targets by encouraging a structural shift away from gas, says Bruegel.
The fallout from Russia’s invasion of Ukraine includes a global movement away from imported fossil fuels toward domestically produced renewables, BP said in its annual Energy Outlook.
The Sakhalin regional court website lists a claim against Exxon Neftegaz Ltd, Exxon's Russian subsidiary, and the case's hearing scheduled for Feb. 28.
According to Refinitiv data, Russian gas exports to Europe dropped to a new post-Soviet low in 2022, but its total LNG exports rose to approximately 33 million tonnes, with more than half of it going to Europe.
Imposition of Russian oil exports is set to take effect on Feb. 5, which is expected to negatively affect Europe's diesel market due to the region's dependence on diesel fuel imported from Russia.
Oil steadied on Jan. 30 as looming interest rate hikes by major central banks and signs of strong Russian exports balanced rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand.
Pakistan's Petroleum Minister Musadik Malik said that Islamabad wants to import 35% of its total crude oil requirement from Russia.
U.S. Treasury Secretary Yellen says Russia's war in Ukraine is harming Africa's economy and presses for 'timely' debt relief for African countries.
Though ruled out for now given the Russia-Ukraine war, BASF still plans to pursue IPO plans for Wintershall Dea.